Question

Prepare Cost Sheet by showing (i) Prime cost,
(u) Factory cost, (iii) Cost of production, (iv) Cost
of goods sold, (v) Cost of sales, and (vi) Profit,
from the following information for the month of
March, 2019:
Direct labour
16,000
Factory overheads
10,000
Cost of goods sold
56,000
Purchase of materials
36,000
Inventory accounts showed the following opening
and closing balances :
March 1st March 31st
SIEN
Raw materials
G
8,000
8,600
8,000
12,000
Work-in-progress
Finished goods
14,000
18,000
Other data:
Selling expenses
3,400
Administration
expenses
2,600
Sales for the month
75,000​

Answer 1

Answer:

Prime cost,

(u) Factory cost, (iii) Cost of production, (iv) Cost

of goods sold, (v) Cost of sales, and (vi) Profit,

from the following information for the month of

March, 2019:

Direct labour

16,000

Factory overheads

10,000

Cost of goods sold

56,000

Purchase of materials

36,000

Inventory accounts showed the following opening

and closing balances :

March 1st March 31st